In a press release, the mid-sized California bank says the bill succeeded in standing up for Main Street banks: “Washington policymakers understood the difference between Wall Street and Main Street banking when they included important concessions for community banks in the new Wall Street Reform Act that was signed into law in July, 2010. The law gives community banks concessions from certain lending and capital reserve regulations and directs the biggest banks to pay higher FDIC premiums. Because community banks represent a different banking business and have a different risk profile from large and internationally-active institutions, the new law recognizes that they should be regulated differently.

By holding the too-big-too-fail institutions accountable and creating special accommodations and provisions for community banks, the law creates an important precedent, which recognizes that Wall Street megabanks require significantly more regulatory checks and supervision than Main Street community banks.” Click here for the full press release.